How much would a federal gas tax holiday save you at the pump?
Taxes,Gas,Trump Agenda,Affordability,Gas Tax Holiday
President Donald Trump wants to temporarily suspend the federal gas tax as drivers face the highest prices at the pump since 2022 amid the war with Iran.
"I think it's a great idea," Trump told CBS News on Monday. "Yup, we're going to take off the gas tax for a period of time, and when gas goes down, we'll let it phase back in."
But a so-called gas tax holiday would require congressional approval and only provide temporary, modest relief to consumers, according to the Bipartisan Policy Center.
How much is the federal gas tax?
Currently, the federal gas tax is 18.4 cents per gallon of gasoline and 24.4 cents per gallon of diesel, according to the U.S. Energy Information Administration. Those figures do not include additional state gas taxes, which average more than 30 cents per gallon...
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